Hertz Global (NYSE:HTZ) Shares Gap Up to $14.17

Hertz Global Holdings, Inc (NYSE:HTZ)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $13.58, but opened at $14.17. Hertz Global shares last traded at $14.61, with a volume of 4,859,661 shares traded.

A number of equities research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Hertz Global from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Barclays upgraded shares of Hertz Global from an “equal weight” rating to an “overweight” rating and set a $19.00 price objective on the stock in a research report on Thursday. Zacks Investment Research upgraded shares of Hertz Global from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research report on Thursday, May 2nd. TheStreet upgraded shares of Hertz Global from a “d+” rating to a “c-” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank set a $21.00 price objective on shares of Hertz Global and gave the stock a “hold” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Hertz Global currently has an average rating of “Hold” and an average price target of $18.50.

The company has a debt-to-equity ratio of 18.68, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a 50-day moving average of $15.54. The company has a market cap of $2.01 billion, a P/E ratio of -85.18 and a beta of 2.11.

Hertz Global (NYSE:HTZ) last posted its quarterly earnings data on Tuesday, August 6th. The transportation company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.52. Hertz Global had a negative net margin of 0.71% and a positive return on equity of 10.92%. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the business earned ($0.19) earnings per share. Hertz Global’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts expect that Hertz Global Holdings, Inc will post 1.11 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of HTZ. Skandinaviska Enskilda Banken AB publ bought a new position in Hertz Global during the second quarter valued at approximately $29,000. Investors Research Corp bought a new position in Hertz Global during the first quarter valued at approximately $38,000. Exane Derivatives bought a new position in Hertz Global during the first quarter valued at approximately $51,000. C M Bidwell & Associates Ltd. bought a new position in Hertz Global during the second quarter valued at approximately $72,000. Finally, World Asset Management Inc bought a new position in Hertz Global during the second quarter valued at approximately $182,000.

About Hertz Global (NYSE:HTZ)

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc, operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 9,700 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand.

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